Lightning Network users never have to worry about going without a hot Dominoes Pizza ever again thanks to the creative minds behind the Fold Platform. Pizza has long been a symbolic gesture in the cryptocommunity, dating back Laszlo Hanyecz’s original Bitcoin pizza purchase ten years prior. This week marks another step towards the completion of the Lightning Network’s Beta testing stage.
The Fold Dominoes Pizza project was about more than just providing people with some delicious pizza. The developers were able to use their platform to push the Lightning Networks capabilities further than ever before. The project was a huge success, albeit, it did reveal some weak points that must be addressed prior to full-scale Lightning Network adoption.
Fold was able to help push the Lightning Network to new capacities. According to 1ML, the network achieved a 39% increase over last months statistics. There were 26,588 payment channels available. These channels are able to handle $2.4 million in payments. This growth was fueled by a combination of factors.
For its part, Fold received close to 1,500 pizza orders. Of these orders only 10% percent actually had Lightning Network enabled wallets. This greatly reduced the completed order size down to only 150 pizza orders. Fold attempted to remedy this problem by providing links to numerous Lightning Network wallets on the site.
What was Learned
The Fold launch revealed a glaring concern within the Lightning Network community. People need to have a Lightning Network-enabled wallet to participate in the payment portals. Aside from owning an LN-wallet, users will need to educate themselves on how to utilize it.
There has been much concern in the past over a lack of wallet support. More recently, a number of new mobile wallet options have emerged. Many of these wallets take the UX experience to the next level. You can find a list of the top LN-wallets here.
It’s a Work in Progress
Speaking publicly on the move, Will Reeves, Fold’s product leader discussed the lessons learned and how his firm plans to remedy them in the future. He explained that the main point to take from the launch is that people need to be educated on the Lightning Network and how to use it. Reeves discussed how his firm plans to incorporate a more robust learning system into their project in the coming weeks.
One of the most promising stats ascertained from the launch is that orders came from all over the US. This shows that Lightning Network supporters reside in nearly every state. Another important statistic was the average order size. To date, the Lightning Network’s average transaction size was $5. The past week saw that rise to $25.
The Lightning Network was able to accommodate this rise in volume without a flaw. Now developers are ready to take the Beta testing stage to the next level. In the past, developers warned Bitcoiners against sending large amounts of Bitcoin over the network during Beta testing.
Fold in the Future
Fold looks to have a promising future. Their platform will begin to expand to host a range of other service providers. The firm seeks to secure agreements with Whole Foods, Target, Dunkin Donuts, Starbucks, and even Uber. If successful, Fold will open the doors for the next big push for Lightning Network adoption.